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Time Warner Cable Announces Senior Management Change

Time Warner Cable (NYSE: TWC) announced today that Peter C. Stern, Executive Vice President and Chief Strategy Officer, will assume additional responsibility as Chief People Officer and leader of Corporate Development.

Mr. Stern will continue to report to Chairman and Chief Executive Officer Glenn Britt, and will retain responsibility for shaping the company’s strategy and oversight of its residential broadband and phone businesses. To these, he adds the following responsibilities:

  • All corporate human resources functions, including organization design, talent planning and acquisition, people development, compensation and benefits, and HR shared services
  • Corporate development, including the company’s Intelligent Home security business, wireless initiatives such as community WiFi and the company’s partnership with Verizon Wireless, and other new businesses

Mr. Stern assumes responsibility for Human Resources functions from Tom Mathews, who is leaving the company for personal reasons, and Corporate Development from Carl Rossetti, who, the company announced earlier this year, will retire at the end of 2012.

“Time Warner Cable’s people are the heart of our strategy and the key to unlocking new opportunities,” Mr. Britt said. ”Strategy, people and corporate development are inextricably linked and I am pleased to bring these functions together under Peter’s leadership. I look forward to working with him to bring an even more strategic approach to the development and management of our 51,000 people.”

Mr. Stern joined Time Warner Cable over a decade ago and has served in a number of strategy and product roles at both Time Warner Cable and its former parent, Time Warner Inc. He played an integral role in developing the company’s mission, values and strategy, and led such industry-shaping product initiatives as Start Over, TV Everywhere and Signature Home. Before joining Time Warner, Mr. Stern was an Associate Principal at McKinsey & Co. He has a J.D. from Yale Law School and an A.B. from Harvard College.

In announcing the management change, Mr. Britt praised Mr. Mathews for his service to Time Warner Cable, which he joined in 2002. “Tom is an enthusiastic, passionate leader. In his years at the company he has shaped our HR function during times of significant change, including our separation from Time Warner and numerous acquisitions. I speak for all of my colleagues in thanking him and wishing him well.”

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